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Manila Bulletin devider Philippines devider National devider Villafuertes have high hopes for PBBM's new investment promotion plan

Villafuertes have high hopes for PBBM's new investment promotion plan

Published Jun 19, 2026 11:19 am

At A Glance

  • Camarines Sur Reps. Migz and Luigi Villafuerte welcome President Marcos' Memorandum Order No. 47 expanding the Strategic Investment Priority Plan (SIPP) to include AI, cybersecurity, renewable energy, EVs, and digital infrastructure.
  • The order directs investment promotion agencies and LGUs to streamline permits and coordination under the CREATE MORE Act and the Ease of Doing Business law.
  • The upgraded 2026 SIPP, formulated by the BOI and FIRB, aims to attract investments, generate jobs, and support economic transformation through fiscal incentives for priority industries.
President Ferdinand "Bongbong" Marcos Jr. (Mark Balmores/ MANILA BULLETIN)
President Ferdinand "Bongbong" Marcos Jr. (Mark Balmores/ MANILA BULLETIN)


Ranking congressmen from Camarines Sur are upbeat over President Marcos' decision to assign key roles to local elective officials in the implementation of his newly-expanded investment promotion program.
Rep. Migz Villafuerte (5th district), chairman of the House Committee on Information and Communications Technology; and Rep. Luigi Villafuerte, House deputy majority leader, said the move has placed vanguard ventures on artificial intelligence (AI) and cybersecurity, carbon capture and renewable energy (RE) development, and electrical vehicle (EV) and digital infrastructure on the list of priority sectors qualified for additional state incentives.
The Villafuertes said that Memorandum Order (MO) No. 47 issued recently by the President upgraded the Strategic Investment Priority Plan (SIPP) for 2026 to include more industries and projects for potential fiscal incentives under Republic Act (RA) No. 12066, or the “Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.” 
Rep. Migz said that MO No. 47 tasked investment promotion agencies (IPAs) to “facilitate and expedite, to the extent possible, the setting up and conduct of registered projects or activities, including assistance in coordinating with the LGUs and other government agencies” through one-stop action centers.
Signed by Marcos on the recommendation of the Board of Investments (BOI), the 2026 SIPP is now “the guidepost of the government in determining which sectors, including emerging and frontier industries and projects, are now qualified for fiscal incentives under the CREATE law", says the 5th district solon from Camarines Sur.
He and his brother Luigi had successively served as governors of the province prior to their election to the House of Representatives, respectively, in 2019 and 2022.
Rep. Luigi says the MO has also “directed LGUs and other government agencies to coordinate with the concerned IPAs and to comply with RA No.11032, or the ‘Ease of Doing Business (EODB) and Efficient Government Service Delivery Act of 2018,’ particularly in the processing of permits, licenses and other requirements".
Both the CREATE and EODB laws were co-authored by former three-term congressman and now Camarines Sur Governor LRay Villafuerte.
Formulated by the BOI in consultation with the inter-agency Fiscal Incentives Review Board (FIRB), the new SIPP was meant to attract more investments and to boost our country’s economic transformation by creating more jobs, upskilling workers, and generating higher-value enterprises and other economic activities.
Marcos approved in May the SIPP, as recommended by the BOI, and tasked concerned government agencies to issue the necessary regulations to ensure that it is implemented in a “synchronized and integrated manner".
The FIRB or IPAs shall grant the appropriate fiscal incentives to registered business enterprises (RBEs) for their approved registered projects or activities on the SIPP list.
“The industry of the registered project or activity shall be prioritized according to national industrial strategy specified in the SIPP, and the SIPP shall define the coverage of the tiers and provide the conditions for qualifying the activities," read MO No.47.
The IPAs are composed of the BOI, Philippine Economic Zone Authority (PEZA), Tourism Infrastructure and Enterprise Zone Authority (TIEZA), Bases Conversion and Development Authority (BCDA), Subic Bay Metropolitan Authority (SBMA), Clark Development Corp. (CDC), Authority of the Freeport Area of Bataan (AFAB), Aurora Pacific Economic Zone and Freeport Authority (APECO) , Zamboanga City Special Economic Zone Authority (ZCSEZA), Cagayan Economic Zone Authority (CEZA) and the Regional Board of Investments-Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-BARMM).

Related Tags

PBBM Camarines Sur Luigi Villafuerte Migz Villafuerte SIPP
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